After the Crash and Scandal: Why Hyperliquid Looks Unstoppable

Core Insights - The recent Crypto Black Friday resulted in $19 billion in liquidations, highlighting the transparency gaps between centralized exchanges (CEX) and decentralized exchanges (DEX) [1][2] - Binance faced significant operational challenges during the crash, while Hyperliquid demonstrated resilience with 100% uptime [2][3] - The incident emphasized the growing appeal of decentralized systems as they maintained market integrity amidst extreme volatility [3] Group 1: Market Performance - Hyperliquid processed over $10 billion of the total liquidations, showcasing its operational strength during market stress [2] - Binance's spot volume dominance is contrasted by Hyperliquid's market share, which remains under 10% despite growth [4] Group 2: Centralization vs Decentralization - The controversy surrounding Binance's listing fees raised questions about fairness and trust in centralized exchanges [5] - Hyperliquid's model allows for permissionless token launches without listing fees, contrasting with Binance's alleged demands for token supply and deposits [6][5] Group 3: Future Developments - Hyperliquid captured 35% of blockchain fee revenue in July, indicating its growing influence in the market [9] - The addition of native USDC to Hyperliquid and the launch of new features like permissionless perps signal ongoing innovation and expansion [9][8]